Pogo Jet IPO Reveals Plan To Buy Eclipse 500s
On Thursday afternoon, Pogo Jet filed a registration statement with the Securities and Exchange Commission for an initial public stock offering to raise money to launch Pogo’s very light jet air charter service. In the filing, Pogo Jet said that it is negotiating the purchase of 25 Eclipse 500s and plans to begin operations in the first quarter of 2009 from a base at Westover Metropolitan Airport in Chicopee, Mass. The would-be operator expects its Eclipse fleet to grow to 100 airplanes by 2011. Pogo Jet plans to offer whole-airplane Part 135 charter in the Northeast, Mid-Atlantic, Ohio Valley and the Carolinas using Eclipse 500s with three passenger seats and two-pilot crews. By the end of the third year of operation, Pogo Jet expects to be flying its Eclipse 500s at an annual rate of 2,000 hours per aircraft.